Every organization has its reasons for looking at video conferencing and the impact that the technology can have on the organization. If you have gone down that path or are planning to, you’ve likely identified some sort of gap or shortcoming in the way your business communicates either internally, externally, or both. Below are a couple of standout pain points that could be pointing you to a video investment.
Ballooning Travel Budget
The travel expense benefit is about as old as video technology itself, but it continues to be a very compelling benefit. If you review your travel numbers and consistently see travel expenses increasing it may be time to take a look at the specific nature of these trips and identify how some of them may be replaced with video. Many organizations (including IVCi clients) have reported savings of over six figures by cutting just one regular executive meeting a month. That’s huge! Those are the types of savings that can greatly enhance a firm’s bottom line and make stakeholders quite happy.
Teams are in a Silo
Collaboration across cross-functional teams can be critical to the success of an organization. If you find that different teams within the company are not working together or even communicating their projects, video may be the answer. If product development simply isn’t connecting with marketing and sales, how do they know the viability and potential market for the new product they are designing? Many may blame a lack of team cooperation on geographic diversity. While this may be the case, video conferencing solutions can easily connect these teams face-to-face to ensure everyone is on the same page and working towards a common goal.
High Turnover of Talented Workers
Recruiting top talent is both time consuming and expensive. But, it’s even more expensive when those employees leave the company. Some of the top reasons employees leave include too much travel that negatively impacts their family life, a desire to work from home occasionally but not being permitted to, or remote employees who don’t feel connected to the organization. Video can address all of these issues while helping these employees complete their tasks in the most efficient manner.
Going Green Is Not Going Well
For the last several years companies have announced plans for green initiatives and some of the larger organizations have added reporting and metrics of success to their annual reports. But what happens when your announced green initiative is falling short? Video conferencing provides substantial green benefits including reducing your carbon footprint through less travel. Many manufacturers can provide a calculator that helps to determine that true reduction. Quantifiable numbers will go a long way in show the success of any green initiative.
The Competition is Always a Step Ahead
There is nothing more frustrating than having your competition beat you to the market with a new product, serve customers better, or outshine you in anyway. If you find that the competition always seems to be one step ahead, video could be part of the reason. Teams that utilize video are able to share information faster and make decisions quicker, resulting in reduced times to market for new products. In addition, organizations that have been able to leverage video in their direct customer communication will see better relationships and longer-term customer retention.
If you are seeing any of these red flags above and your company hasn’t looked at implementing video conferencing, the time may be now!
Video Conferencing Solutions